The Secret to Sudden Wealth: Being Somali in Minnesota?

Tim Mynett, the husband of Rep. Ilhan Omar, has been involved in a venture capital firm called Rose Lake Capital. Recently, the firm has removed details of its senior officers and advisers from its website, including several former Obama administration officials and Democrat Party officials.

Sudden Wealth

Additionally, their sudden wealth has raised eyebrows.

Omar (D-MN) went from nearly broke to being worth up to $30 million in just a year. At the same time, a massive, up to $9 billion fraud scheme involving the Somali community in her district unfolded in Minnesota.

Of the nearly 90 people charged to date, three had direct ties to Omar.

According to her latest financial disclosure in May, the couple’s net worth surged 3500% in just one year; their net worth is now anywhere from $6 million to $30 million. Her husband Tim Mynett’s venture capital firm alone, according to the filing, is worth between $5 million-$25 million.

“There’s a lot of strange things going on,” Paul Kamenar, counsel to the National Legal and Policy Center, told the Post. “She was basically broke when she came into office, and now she’s worth perhaps up to $30 million … she needs to come clean on these assets.”
Rose Lake Capital allegedly had less than $1,000 in assets in 2023, according to the financial disclosure for that year, leading many to question the firm’s skyrocketing fiscal growth.

Between September and October, nine officers and advisor details were removed from the site, including former Obama officials, according to the NYP. These names include former Obama Ambassador to Bahrain Adam Ereli; former Obama Ambassador to China Max Baucus; DNC Finance Chair associate Alex Hoffman; former DNC treasurer William Derrough, and former ex-CEO of Amalgamated Bank Keith Mestrich, per the New York Post‘s findings.

Mynett also received $634,000 in COVID relief.